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Michael S. Jenkins teachings

  • #641
  • Mar 2, 2020 1:48pm Mar 2, 2020 1:48pm
Quoting Swede
{quote} I have the majors on one computer showing only daily charts using JSA....JUST FOR LONG TERM ENTRIES...ONLY NEED TO CHECK ONCE PER DAY... Here is one tip on the 15 min charts.....every single day the pound/dollar has reacted perfectly on the retrace to the JSA retrace level....not sure why it works so well for gbp...but it does. notice how much the chart is squeezed...dont have to do much more because even the 90 degree is nearly right on without scaling. {image} {image} {image}

Clarify.......do yourself a great favour....use Jenkins method for entries....don’t just trigger a trade because the expected reversal is at the 50 level as illustrated above....wait for the confirmation...sure you might miss a few pips but the confirmation method will ensure your going to see some movement in your direction....the second thing is stay on the side of the major trend...and with Gbp we can easily see the direction.
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  • #642
  • Mar 2, 2020 2:26pm Mar 2, 2020 2:26pm
Once more about my last call. I was analyzing it again and I notice, that someone could just put lines this way; and then this trade was really a "no brainer".
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  • #643
  • Mar 2, 2020 2:31pm Mar 2, 2020 2:31pm
Quoting Leacher
USDCAD - looks good for a SHORT around 1.3380-90 level with bearish PA
when trading cad it is a good idea to have the WTI on the side....reaction to the price of oil moving up today...
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  • #644
  • Mar 2, 2020 2:38pm Mar 2, 2020 2:38pm
Quoting Swede
{quote} when trading cad it is a good idea to have the WTI on the side....reaction to the price of oil moving up today... {image}
thx. Interesting.
Time & Price Forecast - Jenkins
  • #645
  • Mar 2, 2020 2:52pm Mar 2, 2020 2:52pm
I was out too early today, I was missing those green lines earlier chart, trend line break level, but not a bad first day. Thank you guys.

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  • #646
  • Mar 2, 2020 4:41pm Mar 2, 2020 4:41pm
if your trading Asian session tonight be aware of RED news for Aud....pretty much assured of a 25 basis point lower interest rates so not sure if its priced in, but it should light up the market....Red news starts at 7:30 eastern and then at 10;30 Interest Rate News check your local time...
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  • #647
  • Mar 2, 2020 5:04pm Mar 2, 2020 5:04pm
[quote=Swede;12786924]if your trading Asian session tonight be aware of RED news for Aud....pretty much assured of a 25 basis point lower interest rates so not sure if its priced in, but it should light up the market....Red news starts at 7:30 eastern and then at 10;30 Interest Rate News check your local time... {image} {image}[/quote

JSA is negative. Would you wait and take a short if conditions satisfy? Or go Long from here on bullish reversal till 50%?

thx
Time & Price Forecast - Jenkins
  • #648
  • Mar 2, 2020 6:02pm Mar 2, 2020 6:02pm
If at 7:30 building permits are really bad the market may be driven down...then 3 hours later if interest rates lowered it may drive it back up if already priced in...or vice versa ...it's a crap shoot..news trump's all technical indicators or analysis. Unless you have rapid execution and you have expertise trading news I think it's best to watch the moves and determine potential later.
  • #649
  • Mar 2, 2020 6:44pm Mar 2, 2020 6:44pm
Quoting Go5
{quote} Starting at A, draw a line to the intersection of the 75% retracement level and the 90º line (black elipse). Next, starting at F, draw a line through the 25% level where it crosses the first line (red elipse). And so on...
Very clear. Thank you.
  • #650
  • Mar 2, 2020 10:14pm Mar 2, 2020 10:14pm
Good to have you back Swede.
  • #651
  • Mar 2, 2020 11:37pm Mar 2, 2020 11:37pm
Quoting Swede
If at 7:30 building permits are really bad the market may be driven down...then 3 hours later if interest rates lowered it may drive it back up if already priced in...or vice versa ...it's a crap shoot..news trump's all technical indicators or analysis. Unless you have rapid execution and you have expertise trading news I think it's best to watch the moves and determine potential later.
Thank goodness you're back, fruitful contributions as always. I've decided anyways to avoid analysis on pairs with high impact news on that day. High impact news on GBP would come in almost 4hrs from now, so I'll avoid all GBP related pairs. Also G7 is happening today, top on their meeting agenda is how to curb Convid-19 spread, caution is needed.
  • #652
  • Mar 3, 2020 2:48am Mar 3, 2020 2:48am
It's formed a nice Head and Shoulders as well

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  • #653
  • Edited 4:24am Mar 3, 2020 4:14am | Edited 4:24am
Quoting fundiwambao
It's formed a nice Head and Shoulders as well {image} {image} {image} {image}
Daily should make a new high?

https://www.forexfactory.com/showthr...6#post12785986

M5 still under 50, so...
  • #654
  • Mar 3, 2020 4:54am Mar 3, 2020 4:54am
we`ll see
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  • #655
  • Edited 5:54am Mar 3, 2020 5:06am | Edited 5:54am
EURUSD: Short target: 1.1040 Zone
(ECB meets on 12th March - by that time EUR may remain here rangebound and then Dump all on 12th, lets see)
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Time & Price Forecast - Jenkins
  • #656
  • Mar 3, 2020 5:28am Mar 3, 2020 5:28am
Quoting Leacher
EURUSD: Short target: 1.1040 Zone {image}
I too had a sell entry M5 1.1134, but difficult to sell because of Daily, so I am staying out.
  • #657
  • Mar 3, 2020 5:48am Mar 3, 2020 5:48am
MT4 is not good for this, maybe starting to use printer, should be better, longer time frames.
  • #658
  • Mar 3, 2020 5:55am Mar 3, 2020 5:55am
Quoting juhanimi
MT4 is not good for this, maybe starting to use printer, should be better, longer time frames.
I agree, MT4 hangs up.

need to find something else more stable. have you tried MT5?
Time & Price Forecast - Jenkins
  • #659
  • Mar 3, 2020 6:25am Mar 3, 2020 6:25am
Quoting Leacher
{quote} I agree, MT4 hangs up. need to find something else more stable. have you tried MT5?
I mean those angles, they do change, so must find something else, maybe MT5 has same issue, I guess.
  • #660
  • Mar 3, 2020 6:32am Mar 3, 2020 6:32am
Quoting juhanimi
{quote} I mean those angles, they do change, so must find something else, maybe MT5 has same issue, I guess.
found a reasonable solution for angles which works as mentioned earlier in the posts an that is to use Trendline by Angle First and then replace it with normal trendline.

hope it helps
Time & Price Forecast - Jenkins
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